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Monday, June 23, 2008 12:28:47 PM
On November 15, 2007, API announced that its board has approved a 1:10 dividend of its subsidiary Microart, Inc. ("MCRT") common stock.
The share dividend entitles each holder of ten shares of API's common stock to receive a dividend of one common share of MCRT. Asia Properties shareholders of record on November 30, 2007 holding physical certificates will be entitled to receive the common stock dividend distribution. Those shareholders holding ASPZ in their brokerage accounts will still be able to receive this dividend until the Xdate is properly established. Daniel S. McKinney, CEO said, "We are currently restructuring MCRT and will be distributing the dividend to our shareholders as soon as this process is finalized and all regulatory agency filings have been completed." The Company plans to file a SEC registration statement, and list MCRT on the OTC Bulletin Board. MCRT is currently traded on the "grey-sheet" market.
"MCRT is negotiating to acquire a Hong Kong based internet TV channel (www.mychannel.hk), which, along with our ownership of two million shares of CRM company Entellium, will add significant value to API in 2008-09," said McKinney.
Win a few. Lose a few.
Only the long term counts.
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